Samsung Electronics is reinforcing its board of directors with semiconductor specialists. Following a major executive reshuffle late last year that focused on its semiconductor business, Samsung is now appointing multiple semiconductor specialists to its board as part of efforts to restore competitiveness.
According to industry sources on Feb. 16, the electronics giant will hold a board meeting on Feb. 18 to discuss appointing semiconductor experts as both internal and external directors. The plan is to triple the number of semiconductor experts on the board from one to three.
Samsung’s board currently consists of nine members including three internal directors and six external directors. The internal directors are Han Jong-hee, head of the DX Division (vice chairman and CEO), Roh Tae-moon, head of the MX Division (president), and Lee Jung-bae, former head of the Memory Business (president). With Lee’s term expiring next month, he will step down, and two semiconductor executives will join the board.
Jun Young-hyun, head of the DS Division (vice chairman and CEO) who oversees semiconductor operations, will be appointed as an internal director. For the remaining position, technical experts such as Song Jai-hyuk, CTO of the DS Division, and Nam Seok-woo, CTO of the Foundry Business, are being considered. If confirmed, the number of internal directors will increase to four, equally divided between the DX (finished products) division handling consumer electronics and smartphones, and the DS (components) division overseeing semiconductors. Roh Tae-moon is likely to be reappointed as an internal director. While Samsung’s board previously expanded to five internal directors last year, the company plans to maintain four positions.
Among external directors, a semiconductor academic expert is expected to replace Kim Han-jo, chairman of the Hana Nanum Foundation, whose term is expiring. In 2018, Samsung appointed semiconductor scholar Park Byung-kook, a professor at Seoul National University, as an external director, but following his passing in 2022, the board has lacked chip expertise. Another semiconductor scholar is reportedly being recommended for the external director position.
Currently, Samsung’s board includes external directors with expertise in finance, trade, energy, and robotics. “While TSMC’s board is composed mainly of semiconductor experts, Samsung Electronics has faced criticism for having more bureaucrats and finance professionals than technical specialists,” one source said. “Strengthening the presence of semiconductor experts among both internal and external directors underscores the company’s commitment to enhancing its technological competitiveness.”
With Kim Han-jo’s departure, Shin Je-yoon, former chairman of the Financial Services Commission and current internal director, is likely to be appointed as the new board chairman. Shin, an economic bureaucrat with expertise in international finance and economic policy, has experience working with global financial institutions. Meanwhile, Kim Jun-sung, CIO of the National University of Singapore Endowment Fund, whose term also expires next month, is expected to be reappointed.
Following the board discussions, Samsung plans to present the appointments for approval at next month’s shareholder meeting.
